Qualcomm Ventures contributed an undisclosed amount to the to the $40 million series C funding round of 360fly Inc. — an Orange County company producing a single-lens camera that takes 360-degree video.
Aliso Viejo-based 360fly announced the funding round May 5.
Qualcomm Ventures is the investment arm of Qualcomm Inc. (Nasdaq: QCOM).
L Catterton, a consumer-focused private equity fund based in Connecticut, led the $40 million round. Also participating was the venture arm of Adidas Group, Hydra Ventures.
360fly said it wants to use the additional funding to expand its worldwide sales footprint and to market its new product, a camera with 4K resolution due for release later this month. The business also plans to invest in research and development.
360fly’s current offering, the 360fly HD camera, sells for $399 at big-box stores.